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Capitalism needs to transform, as its engine's real purpose - business - to solve society's problems and not profit from causing problems to the community. Everyone needs to feel a sense of justified belief in the capitalist system that offers an equitable share in the benefits. We need to move away from the new rentier capitalism into which we are gradually drifting into. The broader ramifications and implications of which are degraded democracies, a more minor middle-class, impact to social mobility, weakened aggregate demand, slower economic growth, and a penultimate challenge to globalisation and capitalism in itself. We would therefore review some of the fundamental neoclassical principles of economics that need to change, as well as how to better incorporate sustainability principles to create a more fairer world.
* Addresses the philosophical and scientific roots of sustainability * Examines neglected ethical and moral aspects of capitalist economic theory * Advocates a new sustainable paradigm for all living organizations, businesses, economics, and societies Over the past half-century, capitalist economics has deviated from its original social purpose into an amoral quest for economic growth at any cost. A relentless pursuit of profits and the "bottom line" poses a constant threat to the earth and the life upon it. Ikerd, who spent the first half of his thirty-year academic career as a traditional free-market, neoclassical economist, came to see the inherently extractive and exploitative nature of his own field and began to develop an alternative vision for capitalism, which he lays out in this book. In order to foster a new economics of sustainability, social and ethical values must be reintegrated into capitalist economics, thus restoring a sense of balance into the economic system that ensures that communities the world over will thrive. Rather than calling for the overthrow of capitalism, Ikerd suggests how capitalism can become a vehicle for these ends. Both a penetrating critique of capitalism and an exploration of its vast and untapped potential for maximizing human welfare, Sustainable Capitalism: A Matter of Common Senseis written for those concerned with the future of our planet and the continued viability of global capitalism.
Capitalism is fast approaching the tipping point into a new sustainable economy that will allow people and the planet to prosper. Pieces of a jigsaw are coming together and bringing into focus a picture of a new, vibrant, attractive and sustainable economic operating system. This quiet revolution is underway - if we could only allow it to flourish. This Special Issue of Building Sustainable Legacies brings together key voices in business and academia that show us how to accelerate towards this tipping point by exploring the role that business in society, responsible education, leadership techniques and legal reform will have in shaping the new sustainable economy. Including contributions from Paul Polman, Katrin Muff, Beate Sjafjell and Gabriele Zedlmayer, this outstanding collection proposes leading insights and innovative solutions to the challenge of creating new economies that work for people and the planet.
A Foreign Affairs Best Book of the Year From the front lines of economics and policymaking, a compelling case that economic growth is a force for good and a blueprint for enrolling it in the fight against climate change. Economic growth is wrecking the planet. It’s the engine driving climate change, pollution, and the shrinking of natural spaces. To save the environment, will we have to shrink the economy? Might this even lead to a better society, especially in rich nations, helping us break free from a pointless obsession with material wealth that only benefits the few? Alessio Terzi takes these legitimate questions as a starting point for a riveting journey into the socioeconomic, evolutionary, and cultural origins of our need for growth. It’s an imperative, he argues, that we abandon at our own risk. Terzi ranges across centuries and diverse civilizations to show that focus on economic expansion is deeply interwoven with the human quest for happiness, well-being, and self-determination. Growth, he argues, is underpinned by core principles and dynamics behind the West’s rise to affluence. These include the positivism of the Enlightenment, the acceleration of science and technology and, ultimately, progress itself. Today growth contributes to the stability of liberal democracy, the peaceful conduct of international relations, and the very way our society is organized through capitalism. Abandoning growth would not only prove impractical, but would also sow chaos, exacerbating conflict within and among societies. This does not mean we have to choose between chaos and environmental destruction. Growth for Good presents a credible agenda to enroll capitalism in the fight against climate catastrophe. With the right policies and the help of engaged citizens, pioneering nations can set in motion a global decarbonization wave and in parallel create good jobs and a better, greener, healthier world.
This collection brings together leading scholarly thinking to understand why CSR failed to prevent the global financial crisis, how corporate social irresponsibility (CSI) contributed to the financial crisis, and how we may reframe CSR or improve CSR frameworks to help prevent or mitigate any future financial and economic crises.
Believe in climate change. Or don't. It doesn't matter. But you'd better understand this: the best route to rebuilding our economy, our cities, and our job markets, as well as assuring national security, is doing precisely what you would do if you were scared to death about climate change. Whether you're the head of a household or the CEO of a multinational corporation, embracing efficiency, innovation, renewables, carbon markets, and new technologies is the smartest decision you can make. It's the most profitable, too. And, oh yes—you'll help save the planet. In Climate Capitalism, L. Hunter Lovins, coauthor of the bestselling Natural Capitalism, and the sustainability expert Boyd Cohen prove that the future of capitalism in a recession-riddled, carbon-constrained world will be built on innovations that cutting-edge leaders are bringing to the market today. These companies are creating jobs and driving innovation. Climate Capitalism delivers hundreds of indepth case studies of international corporations, small businesses, NGOs, and municipalities to prove that energy efficiency and renewable resources are already driving prosperity. While highlighting business opportunities across a range of sectors—including energy, construction, transportation, and agriculture technologies—Lovins and Cohen also show why the ex–CIA director Jim Woolsey drives a solar-powered plugin hybrid vehicle. His bumper sticker says it all: "Osama bin Laden hates my car." Corporate executives, entrepreneurs, environmentalists, and concerned citizens alike will find profitable ideas within these pages. In ten information-packed chapters, Climate Capitalism gives tangible examples of early adopters across the globe who see that the low-carbon economy leads to increased profits and economic growth. It offers a clear and concise road map to the new energy economy and a cooler planet.
This book examines the need for a new way of describing sustainable tourism and also looks at the frameworks needed to rethink how to apply this to communities, private operators and protected area managers. It makes it clear that tourism is just one of many human activities that affects host communities. The work includes informative and provocative case studies with realistic applications. References included in the book will help graduate students formulate new hypotheses and suggest literature for them. Tools and techniques useful to tourism practitioners suggest innovative approaches to marketing, management and community development.
This volume unravels the underlying power relations that are masked in the present discourse of ecological sustainability and conflicts over natural resources. Current discussions on environment emphasise the use and abuse of the environment in various ways. This book looks at the inter-linkages of discourse, resources, risk and resistance in the contemporary neoliberal world. While exploring the experiences of neoliberalisation of nature in India, it brings out the intersections of conservation and management, science and gender, community politics and governance policies. The volume highlights the cultural politics of resistance from multiple sites and regions in India in the recent context (be it land, water, forest, flora or fauna or urban commons). It discusses the ways in which environmental issues have come up and been appropriated, while examining the role of the State and actors such as corporates, traders, consultants, ecotourism companies, green activists and consumers, and consequences of ‘green’ appropriation and the ‘growth’ story. The major themes of the volume are the interrelations of nature, culture and power; neoliberal governance and the environment; access to and use and management of land, natural resources and environment; community politics and livelihoods; marginalised groups and local communities; marketisation and the environment; and new forms of re-appropriation and resistance. This book will be of great interest to students and researchers in sociology, environmental studies, environmental history, environmental anthropology, political ecology, political science, geography, law and human rights, economics and development studies as well as to environmental activists, policy makers and those in media and journalism.
A brand new collection of cutting-edge guides to sustainable capitalism Translate sustainability and “base of the pyramid” strategies into real profits It’s time for capitalism’s next reinvention. In the new Third Edition of his best-selling Capitalism at the Crossroads, Third Edition, Stuart L. Hart reveals tomorrow’s capitalism. He presents new case studies and practical strategies for building companies that are more sustainable, build deeper roots in their markets, play a central role in solving social and environmental problems – and are far more profitable. Hart helps you identify sustainable products and technologies that will drive urgently needed growth and help solve social and environmental problems at the same time. Drawing on his experience consulting with top companies and NGOs worldwide, he shows how to craft your optimal sustainability strategy, and overcome the pitfalls of traditional ‘greening’ approaches. This edition presents new and updated case studies from the US and beyond, demonstrating what’s working and what isn’t. It also guides business leaders in building an “infrastructure for sustainability” – one that can survive budgeting and boardrooms, recharging innovation and growth throughout your enterprise. Next, in the 5th Anniversary Edition of his classic The Fortune at the Bottom of the Pyramid , C.K. Prahalad reveals all that’s been learned about competing and profiting “at the bottom of the pyramid.” Prahalad outlines the latest strategies and tactics that companies are utilizing to succeed in the developing world. He interviews innovative CEOs to discuss what they’ve learned from their own initiatives, including the Unilever business leader who’s built a billion-dollar business in India. You’ll find a new case study on Jaipur Rugs’ innovative new global supply chain; updates to earlier editions’ key cases; and up-to-the-minute information on key industries such as wireless, agribusiness, healthcare, consumer goods, and finance. Prahalad also offers an up-to-date assessment of the key questions his ideas raised: Is there truly a market? Is there scale? Is there profit? Is there innovation? Is this a global opportunity? Five years ago, executives could hope the answers to these questions would be positive. Now, as Prahalad demonstrates, they can be certain of it. From the world-renowned experts in sustainable capitalism Stuart L. Hart and C.K. Prahalad
This book discusses key aspects of what is increasingly becoming a central international debate: the political contest over competing visions and policies on the future of capitalist economic growth versus the alternative policies and images of post-capitalist, post-growth sustainable societies. The hopes and imagined futures of conservative and reform-orientated defenders of capitalist societies, as well as those held by radical green and socialist critics are subjected to detailed scrutiny. What are the limitations on 'green growth' innovation and why will it only have a marginal impact on inequality and other threatening social and environmental problems? Can new technology decouple economic growth from natural resources and eco-systems in order to sustain capitalist production and high consumption? How feasible are images of 'post-work' or post-capitalist societies based on such things as full automation and a universal basic income? If environmentalists reject capitalist growth as unsustainable, what are the political economic and institutional strengths and weaknesses of green post-growth or degrowth proposals? These and other crucial issues are analysed in a challenging and thought-provoking book covering an extensive range of policy reports, social theories, environmental proposals and political debates and practices across the world. The author also offers a number of positive suggestions to deal with the political economic, social and environmental issues covered in the book.